We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
|
|
Share your
coal and shipping news
|
|
“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 23 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 3 PERCENT LESS COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 3 per cent week on week to 2.92 million mt for t ...
Sunday, 22 September 13
BDI STRENGTHENS FURTHER AS CAPESIZE FREIGHT RATES JUMP - CAPT. REDDY
COALspot.com: The freight market continued its upward trend and maintaining the moment with BDI and Cape index up by 16 pct week on week. The Capesi ...
Sunday, 22 September 13
API 8 CFR SOUTH CHINA COAL SWAPS ADVANCE
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Sunday, 22 September 13
SUB-BIT INDONESIA COAL SWAPS REMAIN UNDER PRESSURE
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 2.09 percept month on month on Friday 20 September 2 ...
Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity ...
|
|
|
Showing 4106 to 4110 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
|
| |
| |
|
